Middle East ETF News Older than One Year
EGX Launches Nilex first Index
January 26, 2014-- The Egyptian Exchange (EGX) started to take practical steps towards activating the first index that measures the performance of listed companies of the market for small and medium enterprises, NILEX.
EGX indices committee studied, during its last meeting held on the 23rd of January, the launch of NILEX Index choosing from different methodologies.
Dr. Mohammed Omran, EGX Chairman, noted that the launch of this new index comes within the continuous efforts of developing the market and its financial instruments as well as its indicators.
Source: Egyptian Exchange (EGX)
Bourse breaks 11,300 resistance level on robust dividend expectations
January 25, 2014--Qatar Exchange broke the 11,300 resistance level with ease and capitalisation enhanced by QR12bn during the week on robust dividend expectations.
Foreign institutions net bought QR400mn worth stocks to lift the 20-stock Qatar Index by 2.09% against Dubai's addition of 5.81%, Abu Dhabi (2.96%), Kuwait (1.48%), Muscat (0.84%), Bahrain (0.67%) and Saudi Arabia (0.12%).
Source: Zawya
Egypt to implement new rules for companies on stock exchange on Feb 1
January 22, 2014--Egypt's financial regulator will implement new regulations for companies listed on the stock exchange on Feb. 1 to help boost trading on the bourse and attract more investment, its chairman said on Wednesday.
A listed company will no longer need permission from the Egyptian Financial Supervisory Authority to split shares or have to call a general assembly prior to a capital increase as long as it complies with pre-set rules, EFSA head Sherif Samy told Reuters by phone.
Source: Reuters
QE breaks 11,300 resistance level on sustained buying momentum
January 22, 2014--Sustained buying momentum brought about by foreign institutions drove the Qatar Exchange into positive terrain for the third consecutive day and its key index broke the 11,300 resistance level with ease.
Buying interests-notably in Ooredoo-led the 20-stock Qatar Index (based on price data) surge 1.42% to 11,338.41 points. However, local retail investors continued to be net sellers despite the closure of the QR3.23bn initial public offer of Mesaieed Petrochemical Holding Company, a Qatar Petroleum subsidiary.
Source: Zawya
Abu Dhabi index snaps six-day winning streak
January 22, 2014--UAE indices traded in opposite directions on Wednesday with Dubai making a comeback.
The Insurance sector lifted the DFM index up by 0.60 points to 3687.32 points, but both volume and value remained lower.
Among the gainers, GGICO rose for the third day by 14.84 per cent to Dh1.47, followed by Salama by 14.42 per cent to Dh1.19 and Aman by 14.29 per cent to Dh1.52.
Source: Zawya
Dubai index runs out of steam after 8-day rally
January 22, 2014--Dubai index ran out of breath on Tuesday after advancing for the past eight days.
The DFM index ended 0.12 per cent down at 3,665.42 points.
Among the gainers, GGICO rose for the second day by 14.29 per cent to Dh1.28, followed by CBD which went up 8.44 per cent to Dh4.88 and Salama by 7 per cent to Dh1.04.
Source: Zawya
Retail sector in KSA posts 1.91% gain
January 21, 2014--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) finished to the downside Monday, slipping 0.14 percent further to 8,727.78.
Wavering in the North-South within a narrow range of 28.9 points it dropped roughly 12 points for the entire session.
Source: Zawya
Dubai index surpasses five-year high
January 20, 2014--Real estate, financial and investment shares lifted the Dubai index by 1.45 per cent to close at 3,669.83 points on Monday, its highest level since October 2008.
A buying spree was evident as about 1.91 billion shares worth Dh2.43 billion were traded. The index advanced for an eighth day.
Source: Zawya
Abu Dhabi index surpasses five-year high
January 19, 2014--UAE indices started the week on a positive note on Sunday with Abu Dhabi's benchmark index closing at its highest close since August 2008.
Real estate shares in Dubai did not get a boost amid a 53 per cent increase in the total value of real estate transactions done last year as per the data by Dubai Land Department.
Source: Zawya
Telecom sector surges over 2%
January 16, 2014--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) finished to the upside at 8,745.28 points Wednesday, adding 48.89 points or 0.56 percent for the entire session.
While curving in the upward territory throughout the day it rose to a maximum gain of 61 points.
large cap with 0.93 percent positive change remained prominent among market cap indices. Most of large caps showed modest gains, with Etihad Etisalat Co. (Mobily) increasing by 2.9 percent, Samba Financial Group 2.5 percent and the bellwether SABIC (Saudi Basic Industries Corp.) 1.7 percent. SABIC also topped the value chart, pumping more liquidity (SR 656.4 million) into the market.
Source: Zawya
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